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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 28 October 13
API 8 CFR SOUTH CHINA COAL FOR Q3'14 DELIVERY LOST ON D-D,W-W & M-M
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.22 percept M-M on Friday 25 October 2013. The CFR South China Co ...
Monday, 28 October 13
COAL SWAP FOR Q3' 2014 DELIVERY LOST ON D-D, W-W AND M-M
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.46 percept month on month on Friday 25 October 2 ...
Saturday, 26 October 13
PANAMAX CHARTER RATES FROM INDONESIA TO INDIA STAY FIRM - SOLYM
COALspot.com: The freight market showed tendency of softness with Cape and Panamax futures and physical soft.
The BDI was down by 12 pct week end ...
Saturday, 26 October 13
DRY BULK MARKET KEEPS ON RETREATING, BUT NEW BUILDING ORDERS KEEP ON PILING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market kept on retreating this week, with the industry's benchmark, the Baltic Dry Index (BDI) falling to 1,708 points, down 78 on the ...
Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
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- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
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